Press Release
U.S. Department of Commerce Invests $3 Million to Support Manufacturing and Technology in Wilmington
Contact: EDA Public Affairs Department, (202) 482-4085
October 4, 2017
WASHINGTON – U.S. Secretary of Commerce Wilbur Ross today announced that the Department’s Economic Development Administration (EDA) is awarding a $3 million grant to Delaware Innovation Space, Inc. of Wilmington, Delaware, to support the renovation and refitting of a portion of a 135,000 square-foot building located at the DuPont Experimental Station in Wilmington to serve as the home of Delaware Innovation Space, Inc. (DISI), a technology and science incubator, and multi-tenant facility. According to grantee estimates, the project is expected to create 657 jobs and generate $80 million in private investment.
“The Trump Administration is committed to stimulating job growth by supporting small business innovations in communities across the country,” said Secretary of Commerce Wilbur Ross. “This new research and incubation space will ensure a skilled workforce for Wilmington’s manufacturing and high-tech industries as well as providing jobs for the thousands living in the wider region.”
The DISI will provide a cost-effective space for start-ups and maturing businesses alike. The surrounding geographic area includes historically mature companies operating in chemical, biotechnology, and the material economy. Researchers and businesses will benefit from their proximity and relationships with one another. Further, DISI will create more jobs for new workface entrants and early-career professionals. This project provides a unique opportunity to create an affordable business incubator and will maximize EDA’s support to produce well-paying jobs that will directly impact the regional economy.
About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation's regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA makes investments in economically distressed communities in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.